Boeing and Silk Way Airlines announced Thursday an order for two Boeing 747-8 freighters valued at US$704 million.

“Silk Way Airlines’ vision is to be a successful and profitable cargo operator by investing in its fleet and services and continuing to increase its regional and international footprint,” Zaur Akhundov, president, SW Holding, parent company of Silk Way Airlines, said. “The order for two Boeing 747-8 freighters is a move in that direction.”

Silk Way Airlines, based in Baku, Azerbaijan, operates Boeing 747-400 and 767-300 freighters.

“One of the goals of the Azerbaijani government is to continue building Baku’s strategic positioning as a trade hub,” said Jahangir Askerov, president, Azerbaijan Airlines, and architect of the country’s present day civil aviation industry. “The addition of the new Boeing 747-8 freighters will enable Silk Way Airlines to expand its operations and help the government achieve its objective.”

The new 747-8 freighter gives cargo operators the lowest operating costs and best economics of any large freighter airplane while providing enhanced environmental performance. It offers 16 percent more cargo volume than the 747-400. To date, Boeing has delivered 36 747-8 freighters.

“We are pleased that Silk Way Airlines has selected the 747-8 freighters to serve some of the world’s high growth markets,” said Marty Bentrott, vice president for sales, Boeing Commercial Airplanes, Middle East, Russia, and Central Asia. “The 747-8 freighter is the most efficient large freighter in the air and carries with it the 747 family’s legacy of leadership in the air cargo sector.”